Golf executives ordered to pay $3 million

A New York golf company executive already facing felony charges for allegedly filing false equipment purchase bills has been ordered as part of a civil suit to pay $3 million to investors in connection with a loan for a course development project in Middletown, Del.

A federal judge in Maryland ruled that Neil E. Trabich, president of Global Golf Inc. and an associate, Ronald Coruzzi of Signature Management Inc., must repay Aaron Young and Peter M. Rubin almost $1.25 million in principal and interest. Trabich also was ordered to pay an additional $1.75 million for backing out of a 20-year consulting agreement with the two men.

Young claimed he had arranged for a bank loan for Trabich in May 2006 as part of a golf course development agreement. But Young in court documents stated that he had paid off the loan himself after Trabich in late 2007 stopped making payments and filed suit to cancel the agreement.

Trabich had sought to void the deal, claiming that the terms of the agreement were usurious and violated New York law.

Still pending are suits filed by Young against Trabich in federal court in connection with a course development deal in Virginia and another long-term consulting arrangement.

Trabich in the meantime also is accused by Suffolk County, N.Y., officials of filing false equipment bills in connection with a contract to renovate the county-owned Bergen Point Golf Course.

He allegedly billed the county $133,800 for purchase of equipment from a company that did not exist.

Trabich's attorney, however, claimed that the operator had fulfilled the terms of the contract and that improvements he had made to the course had generated a significant increase in revenue.

A former New York legislator, Allan Binder, last month was arrested and charged with taking an estimated $10,000 in bribes from Global Golf. Authorities allege Binder took the money in return for helping the company win a contract in 1997 to operate a nine-hole course in Northport, N.Y.

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